Connecticut Ranks No. 4 In Millionaires

Connecticut ranks No. 4 in millionaires per capita after Hawaii, Maryland and New Jersey as all four states saw their number of wealthy residents rise in 2010, a new report today shows.

Connecticut ranks No. 4 in millionaires per capita after Hawaii, Maryland and New Jersey as all four states saw their number of wealthy residents increase in 2010, a new report today shows.

The number of millionaires in Connecticut increased by 8 percent in 2010 to 89,647, the report by Phoenix Marketing International said. That figure means that 6.65 percent of the state's total number of households include a millionaire.

No. 1 Hawaii has a millionaire in 6.93 percent of its households. The national average is 4.78 percent.

Phoenix, which is not affiliated with The Phoenix Cos., defines a millionaire household as one with at least $1 million in investable assets, not including sponsored retirement plans or real estate.

The top four states have remained in the same order for the past three years. In 2007, Connecticut's peak, the state had 95,000 millionaires and was No. 3, with 7 percent of its households in that category.

"Hawaii, Maryland, New Jersey and Connecticut all share some important distinctions: They are small states with large concentrations of highly educated professionals and business owners which are key ingredients to growing wealth," said David Thompson, managing director of the Phoenix Affluent Market, whose office is in Granby.

Maryland and New Jersey are the two states ahead of Connecticut in the ranking of median income, the point at which half of earners earn more and half earn less, according to new Census data. Connecticut is far ahead of all states in total income per capita. The reason: Our super-rich are richer than theirs and we have fewer people in poverty.